Core Viewpoint - Enbridge Inc. will not redeem its Cumulative Redeemable Preference Shares, Series 15 on September 1, 2025, allowing holders to convert their shares into Series 16 Shares under certain conditions [1][2]. Summary by Sections Conversion Rights - Holders of Series 15 Shares can convert their shares into Series 16 Shares on a one-for-one basis on September 1, 2025, unless there are fewer than 1,000,000 Series 15 Shares or Series 16 Shares outstanding after the conversion [1][2]. Dividend Information - The annual dividend rate for Series 15 Shares from September 1, 2025, to September 1, 2030, will be 5.626%, calculated as the five-year Government of Canada bond yield of 2.946% plus 2.68% [3]. - For Series 16 Shares, the quarterly floating rate cumulative preferential cash dividends will start at 1.33882% for the period from September 1, 2025, to December 1, 2025, based on the three-month Government of Canada treasury bill rate [4]. Conversion Period - The conversion period for beneficial holders of Series 15 Shares runs from August 2, 2025, until 5:00 p.m. (EST) on August 18, 2025, and holders are advised to contact their brokers promptly to facilitate the conversion process [5].